Dechert Files Comment Letter in Response to FINRA’s Proposed Amendments to Rule 2210

On December 15, 2023, Dechert LLP filed a comment letter in response to FINRA’s proposed amendments to Rule 2210, which would permit the use of targeted returns and projected performance in institutional communications and communications for offerings limited to qualified purchasers, subject to several conditions and limitations.

Drawing on Dechert’s extensive experience with respect to the marketing and distribution of private funds and other investment products, the letter focuses on the practical impacts of the proposal on private fund managers and placement agents seeking to use targeted returns and projected performance in marketing materials. The letter also highlights certain ambiguities in the proposal and areas for better alignment with existing requirements under the Investment Advisers Act of 1940. 

Read “Dechert LLP Comment Letter – Notice of Filing of a Proposed Rule Change to Amend FINRA Rule 2210 (File No. SR-FINRA-2023-016),” authored by Michael McGrath and Lindsay Grossman.